United Kingdom · Delayed Price · Currency is GBP · Price in GBX Michelmersh Brick Holdings Earnings Call Transcripts
Fiscal Year 2026
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Revenue fell 9.5% year-over-year, outperforming a 25% market decline, with margin improvements driven by cost control and product mix. Net debt is low and expected to return to net cash next year, while dividends remain steady. Market uncertainty persists, but long-term fundamentals are supported by housing demand.
Fiscal Year 2025
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Resilient FY2025 performance with revenue down 1.7% and adjusted operating profit down 16.8% amid challenging UK and Belgian markets. Strong cash flow supported dividends and buybacks, while capital investments and operational flexibility position the business for recovery.
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Revenue rose 1.1% year-over-year, but adjusted EBITDA fell 18.1% due to operational disruptions and cost pressures. The business remains resilient, maintaining a strong balance sheet and dividend, with growth targeted for FY26.
Fiscal Year 2024
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Revenue declined 9.3% year-over-year due to price and dispatch volume pressures, but the group maintained a strong order book and invested in capacity and sustainability. EBITDA-to-cash conversion remained robust, and a mid-single digit price increase was implemented for 2025.